Water Purification System Market - Forecast(2024 - 2030)

The global water purifier market size was $30.62 billion in 2022 & is projected to grow from $33.65 billion in 2023 to $54.48 billion by 2030, at a CAGR of 7.6% during the forecast period (2024 - 2030 With rising concerns about water contamination and the need for safe drinking water, there has been a significant shift towards advanced filtration technologies in water purifiers. Consumers are increasingly demanding purifiers equipped with multi-stage filtration systems, including activated carbon filters, reverse osmosis (RO) membranes, UV disinfection, and ultrafiltration membranes. These technologies are capable of removing a wide range of contaminants, including bacteria, viruses, heavy metals, and chemicals, ensuring the delivery of clean and safe drinking water. Manufacturers are continuously investing in research and development to improve the efficiency and effectiveness of these filtration technologies, making them more accessible and affordable to a larger consumer base. Another significant trend in the water purifier market is the growing popularity of point-of-use (POU) water purification systems. POU systems are designed to treat water directly at the point of consumption, such as kitchen faucets or water dispensers, providing on-demand access to clean drinking water. These systems offer several advantages, including convenience, cost-effectiveness, and the ability to customize water treatment based on specific contaminants present in the water supply. POU water purifiers come in various forms, including countertop units, under-the-sink systems, and portable devices, catering to diverse consumer preferences and requirements. The convenience and efficiency offered by POU water purification systems have contributed to their increasing adoption in residential, commercial, and industrial settings worldwide.

The report: “Water Purification System Market Forecast (2021-2026)”, by Industry ARC covers an in-depth analysis of the following segments of the Water Purification System Market.

By Media Type: Single & Dual Phase, Multimedia, Cartridge

By Product: Point-of-use Filters (Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters, and Others) and Point-of-Entry Filters

By Technology:  RO Purification Filters, Gravity-based Purification Filters, UV Purification Filters and others

By Design: Portable, and Non-portable

By Industry Vertical: Household, Oil & Gas, Energy, Chemicals & Petrochemicals, Food & Beverages, Pharmaceutical and Others

By Geography - North America (U.S, Canada, Mexico), Europe (U.K, Germany, France, Italy, Spain, Others), APAC (China, Japan, India, South Korea, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa) 

• Asia Pacific is analysed to dominate the Water Purification System Market with a share of 36%, owing to the growing investments to establish water & wastewater treatment & filtration, along with the growing demand of standard water usage by various industry verticals,

• The Residential sector is estimated to hold the major share of 41% in 2020, owing to the growing urbanization, rising introduction of smart consumer electronics, along with significant demand of safer consumption water across households.

• In order to procure safe drinking water, it is pertinent to eradicate impurities, chlorine by-products, and other dangerous viruses, thereby leading the market growth of the Water Purification System Market. 

By Product, the Water Purification System Market is segmented into Point-of-use Filters (Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters, and Others) and Point-of-Entry Filters. Elkay, the renowned Appliance manufacturer launched the touchless counter-top water dispenser, and expanded its Smartwell water dispenser range in the US. The touch-free model is designed to enable users to dispense drinks and develop various custom beverages with an added mobile app that is equipped with nutritional information. Thus, the rapidly evolving market of safe and thoughtful products, related to water purification and other variable customizable design options are expected to accelerate the growth of the Water Purification System Market. 

By Industry Vertical, Water Purification System Market is segmented into Residential, Oil & Gas, Energy, Chemicals & Petrochemicals, Food & Beverages, Pharmaceutical and Others. The Residential sector is estimated to hold the major share of 49% in 2023, owing to the growing urbanization, rising introduction of smart consumer electronics, along with significant demand of safer consumption water across households. In January , Samsung launched BESPOKE water purifier, its first-ever AI-powered water purifier in the the Consumer Electronics Show (CES) 2023. The Samsung's BESPOKE water purifier is a modular design with customized options, such as a single faucet and multiple faucets. According to the United States Environmental Protection Agency, it is the primary aim to establish the Safe Drinking Water Act to develop protective drinking water standards. Therefore, the emergence of several drinking water regulations, and launches of varied Water Purification solutions are some of the factors that are estimated to boost the growth of the Water Purification System Market. 

By Geography, Asia Pacific is analysed to dominate the Water Purification System Market with a share of 36%, and is also analysed to have a significant growth during 2024-2030. The growing investments to establish water & wastewater treatment & filtration, along with the growing demand of standard water usage by various industry verticals, such as chemicals & petrochemicals, oil & gas, food & beverages, pharmaceuticals, and more. In a number of industrialized nations, along with some developing countries of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) region, governments are investing more attention to enhance water quality in order to meet drinking-water standards. In December 2023, Kent launched a new purifier using ‘zero water wastage technology’. The technology is designed to recycle the residue water and the company also claimed that the upgraded version of the Kent RO purifier is featured with added capabilities to produce back the 10 storey building rejected water. Therefore, the various launches of latest water purification technologies, a significant rise of the clean drinking water, and other factors accelerate the growth of the Water Purification System Market in the region.

 

In order to procure safe drinking water, it is pertinent to eradicate impurities, chlorine by-products, and other dangerous viruses, thereby leading the market growth of the Water Purification System Market. Moreover, the surging demand to recycle water to generate clean water for various uses is a challenging factor, and thus, various acquisition and business development take place to solve this crisis worldwide. In January 2020, DuPont acquired four water purification companies, known as Memcor, Desalitech, OxyMem Limited and inge GmbH. As the quality of water is deteriorating rapidly, the company has invested to administer water purification and separation technologies, such as reverse osmosis, ultrafiltration, and ion exchange resins. According to the World Bank, there are 85% of water requirements across rural India, and the drinking water requirements are majorly solved with the support of groundwater sources, which are harmful and not recommended for consumption. In March 2021, a start up in India introduced a water purifier that can clean 1 lakh litres of water, with minimal cost. Therefore, the impending health crisis due to lack of poor water quality across the globe and lack of clean water availability caused various economic repercussions for the government have influenced the growth of the Water Purification System Market. 

There are various laws and regulations across the world developed to strengthen clean water and supply of quality consumable water, such as EPA enforces federal clean water and safe drinking water laws, Prevention and Control of Pollution ACT, Water Management Act 2000 and the Water Act 1912, Drinking Water Directive, resulting to boost the market growth. As of December 2020, U.S. Steel, the country’s second-largest steel producer fined billions of dollars, and roughly paid $3 million for spilling waste, including discharge iron into Lake Michigan since 2013. The company is still facing $1.2 million in fines and cleanup costs as they violated Environmental Protection Agency, and other multiple Clean Water Act, and contaminated the sixth-largest freshwater lake in the world, which adversely affected 6.6 million people. Thus, the growing compliance and other robust limitations set by the government-approved permits are conforming to the growth of the Water Purification System Market in the forthcoming years.

Water Purification System Market Challenges

High maintenance cost that hampers the growth of the market

The process of purification requires various integration of technologies and related standards to mandate. Moreover, the purification filters are developed with enhanced piping systems that require frequent cleaning and maintenance to regulate the constant purification process. However, the entire system is expensive and also, the guidelines for every system are much varied due to the developed design, which creates a lot of hurdles to manage the overall maintenance. Therefore, the expensive maintenance cost and lack of proper funding are set to hamper the growth of the Water Purification System Market. 

Water Purification System Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Water Purification System Market. The Water Purification System top 10 companies include:

1. Eaton Corporation

2. Suez Water Technologies & Solutions

3. Veolia

4. Dow Water & Process Solutions

5. Eureka Forbes Limited

6. Kent RO System Ltd.

7. LG Electronics

8. Panasonic Corporation

9. EvoQua Water Technologies

10. Grundfos

11. Brita

In Nov 2022, Culligan International started a merger with Water logic Group Holding to form a company that specializes in providing clean and sustainable drinking water solutions, which will be known as 'Culligan'.